India's Honasa targets double-digit revenue growth on retail push, eyes Mamaearth revival
May 23 (Reuters) - India's Honasa Consumer (HONA.NS), opens new tab, which owns beauty brands including BBlunt, is deepening its push into neighbourhood stores to drive double-digit revenue growth this fiscal, while also looking to revive its flagship Mamaearth brand, a top executive told Reuters.
The company, which currently serves more than 100,000 stores directly, plans to expand to another 50,000 stores in the current financial year that started on April 1, CEO and Co-founder Varun Alagh said late on Thursday.
Alagh expects brick-and-mortar growth, combined with growth in newer skincare brands Aqualogica and Dr. Sheth's, and a turnaround of Mamaearth, to drive revenue growth in the double-digit percentage range.
Honasa, which began as a direct-to-consumer baby care products startup in 2016, also owns beauty brands including Derma Co.
Analysts expect Honasa's revenue to jump 15% year-on-year to 23.71 billion rupees ($276.1 million) this fiscal, according to data compiled by LSEG. However, Alagh declined to say whether the company would exceed the forecast.
Honasa's forecast comes months after it came under fire for allegedly dumping excessive stock on Indian distributors without considering demand, a claim that the company has denied.
Alagh also declined to say when Mamaearth would return to growth, though he noted that Honasa would double down on its "focus categories" including face wash, shampoo, moisturizers, and sunscreen to revive the brand.
Honasa said last year that Mamaearth's growth had lagged its own expectations for the last few quarters due to shifting consumer preferences, with the company noting that it needed to refresh its products, price and marketing.
Honasa's revenue rose 8% to 20.67 billion rupees for the financial year ended March 31, but this trailed a 13% growth in volumes as a larger share of sales came through third-party stores that bring in less money per product.
($1 = 85.8900 Indian rupees)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
an hour ago
- Reuters
US appeals court confirms patent validity of Acadia's Parkinson's drug
June 9 (Reuters) - Acadia Pharmaceuticals (ACAD.O), opens new tab said on Monday that the U.S. Court of Appeals has confirmed the validity of its patent for Nuplazid, its drug for hallucinations and delusions associated with Parkinson's disease. The decision supports a December 2023 ruling from the U.S. District Court of Delaware, ensuring the patent remains protected in Acadia's legal battle against India-based drugmaker MSN Laboratories. The appeals court followed a precedent that says an earlier patent claim cannot be invalidated by a later one if they share the same priority date. "We are gratified that the U.S. Federal Appeals Court has affirmed the lower court's ruling in favor of our composition of matter patent for Nuplazid, securing protection into 2030 for this patent, and beyond based on the recent favorable ruling for our formulation patent providing patent protection for Nuplazid 34 mg capsule formulation into 2038," said CEO Catherine Owen Adams. This decision comes after another favorable ruling for Acadia regarding its formulation patent for Nuplazid. The court supported Acadia's claims of infringement and validity in its legal case against Aurobindo Pharma ( opens new tab and other companies. The U.S. FDA approved Nuplazid for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis in 2016.
Daily Mail
4 hours ago
- Daily Mail
Shop the Korean beauty app that brings skincare and makeup brands NEVER sold in the US to you at amazing prices
If you're always on the hunt for new Korean beauty products but wish you had just one convenient place where you could shop it all — and at the touch of your fingertips — we have found the most amazing thing. YLESS just made its US debut, and we couldn't be more excited. The app brings the best of indie K-beauty right to you, featuring over 1,000 products from 20 brands that have never even been sold in America until now. YLESS Bring the best of K-beauty right to your fingertips! YLESS makes it easy to streamline the experience with its clean, gorgeous app. Shop the best of the best right here, including top-tier makeup and skin care products all neatly laid out and simple to navigate. Everything comes to you from leading Korean beauty manufacturers with fresh formulas and wallet-friendly prices! FREE Download Here Browsing YLESS is a dream thanks to its clean interface and easy-to-navigate categories, which are broken down so you can easily find the K-beauty products you love Touting itself as a 'cosmetics paradise,' the app is jam-packed with gorgeous makeup and skin care at incredible prices — and using it to find your favorites is both fun and easy thanks to the clean, streamlined interface. YLESS makes it easy to navigate products you've never heard of and formulas that are completely new to you in the most approachable way. The company teams up with leading Korean beauty manufacturers to deliver these fresh finds to you. In other words, you can trust that what you order is brought to you by a trusted name in beauty. After you download (it's free!), you have the option to select a few of your favorite beauty essentials before diving in to shop. If you prefer, though, you can skip right to the good stuff and head straight to paradise. Here's where you'll find everything neatly laid out, from sunscreen and moisturizer to lip oil and highlighter. Conveniently, you can even browse by bestselling products in each category, simplifying things if you aren't sure where to begin or if you're totally new to K-beauty and want to find what everyone's loving. If you know exactly what types of products you love and want, though, YLESS makes it so easy to find them. Click around to browse items by category, or to view products strictly formulated for sensitive skin. All the beauty and all the values! YLESS delivers it all and makes it so easy to find new favorites via its sleek app that is new to America What you'll find is the best of the best. The 'Wink' lineup consists of super high-performance dupes of five-star favorites. The AVANJUNE Winter Camellia Serum, for example, is formulated to replicate the widely beloved Chanel Camellia Serum. The difference? It delivers the same impressive results in no time for a fraction of the price of the big name. Also notable is the 'First-Try' range, which is where adventurous types will find their pot of gold. If you aren't afraid to try something new, step outside of your comfort zone, and test the K-beauty waters, you are going to love what you find here! Among the highlights is BLAC3 Blood Drop Lip Oil, which is basically formulated to deliver that devilishly sexy, 'just bitten' red tint to your pout with zero effort. You literally can't find an easier (or more fun!) way to shop for new, exciting K-beauty products. It's as simple as downloading the YLESS app and adding to cart!
Reuters
9 hours ago
- Reuters
India's Tata Motors to invest up to $4 billion over 5 years for EVs, new cars
June 9 (Reuters) - India's Tata Motors ( opens new tab plans to invest up to 350 billion rupees ($4.1 billion) over the next five years, aiming to cement its position as the country's top electric vehicle maker amid rising competition and a push to adopt clean cars. The maker of the Nexon and Punch sport utility vehicles will nearly double its portfolio from eight models to 15, launch more EVs and compressed natural gas cars as well as enhance the vehicles' technology features, according to its investor day presentation released on Monday. India, the world's third-largest car market, is planning stricter emission norms starting 2027 and wants EVs to form 30% of all car sales by 2030. Tata Motors did not share its investment plan for the current year to March 2026, but said last month the domestic businesses, including commercial vehicles, would have a capital expenditure of about 80 billion rupees. Intense competition in the combustion engine market has allowed rival Mahindra & Mahindra ( opens new tab to overtake Tata. China's MG Motor ( opens new tab has also challenged Tata's EV dominance with the "Windsor" model, outselling its products since late last year. Yet, Tata Motors maintained its target of 16% market share by March 2027, aiming to reach 18%-20% by March 2030. ($1 = 85.6310 Indian rupees)
